Marketing on a Budget

Marketing choices for small businesses on a budget

The importance of marketing is something that many small businesses underestimate. How hard can it be to create a logo, start a Facebook page, design a website and marketing collateral and maintain the website and create news stories and?… oh.

In order to market your products and services to a high standard, to stand out from the competition and convince customers that it’s YOU who are offering what they want to exchange their hard-earned cash for, you’re going to need some help from the professionals. You don’t need the marketing budget of Procter & Gamble to get a great result, but you do have to consider your options wisely. As a small business looking for a cost-effective solution, here are some options you may consider:

1. Hire a marketing manager

Pros – Hiring a permanent member of staff means that 100% of their working hours will be focused on marketing your company and they’ll have lots of time to align their strategy to your vision for the business.  A seasoned professional can spend time understanding your business and how it fits into your specific industry, in order to tailor their expertise to the vision you have for your company.

Cons – If you’re hiring just one marketing professional, you’re going to want to make sure they know their stuff, which can be pricey – the median UK salary for a marketing manager is £38,000 and only increases with experience! It’s also worth considering the range of tasks you’ll be expecting from them. Whilst you might find a superstar all-rounder, it’s unlikely your new marketing manager will be strong in all areas, meaning you may have to spend on additional services after all.

2. Employ an enthusiastic in-house team

Pros- By employing people with different skills, you have the potential to create a great team producing innovative, professional results. And it’s always great to have more people to participate in brainstorming sessions.

Cons – If budget is your concern this is probably not the strategy for you. A tight budget probably means you’ll be hiring less experienced people. This isn’t necessarily a bad thing (your young team members might have huge potential and fresh ideas) but you’ll need to be prepared to commit a great deal of time to mentoring and managing your young hires, in addition to multiple salaries of at least £16,000 per year.

3. Outsource to an agency

Pros –  Having a team of experts on hand means every aspect of your marketing campaign will be delivered to a high standard and you only pay for the services your business needs. This brings the added bonus of flexible spending depending on your company’s financial position. As well as this, you’ll get insider knowledge on issues such as printing options and technical problems and insight into the latest marketing trends and opportunities for your business.

Cons – Although you’ve contracted an agency, it’s not as simple as out of sight, out of mind. You’ll still have to be willing to communicate regularly with the team and help them to help you!

4. Get yourself a marketing consultant

Pros – A dedicated professional who’ll spend a period of time learning about your brand, a marketing consultant can apply their vast experience to your particular business situation . This is a highly personalised approach, great for getting your marketing strategy off the ground or if you’re looking for a high ROI. Choose a consultant whose speciality aligns with your business and you’re winning!

Cons – There’s no getting around it – hiring a marketing consultant isn’t cheap, but the expense is only on a temporary basis.

We offer cost-effective, creative out-of-house marketing solutions for businesses in a wide variety of industries. For more information contact us.

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